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Crude palm oil futures on Bursa Malaysia Derivatives fell below RM2,500 per tonne, their lowest since November 2019, as broader equity and commodity markets sold off on Covid-19 concerns. Soybean oil also dropped on the Chicago Board of Trade and Dalian Commodity Exchange.
AmSpec data showed Malaysian palm oil exports for February 1-25 fell 3% from the January period.
Covid-19 lockdowns and event cancellations threatened consumer and business demand, weighing on vegetable oil prices and export flows. Lower palm and soy oil prices reduce the cost of these fats for feed formulators but signal weaker demand.
malaymail.com25 de fev. de 2020Após 51 eventos baixista de macro passados, Óleo de palma subiu em mediana -1,3% em 5 sessões (35% de alta; metade central de -4,1% a +1,1%), e -1,8% em 20.
Após 40 eventos baixista de macro passados, Óleo de soja subiu em mediana -0,8% em 5 sessões (45% de alta; metade central de -4,5% a +1,7%), e -1,5% em 20.
Variações do benchmark de cada commodity desde o último fechamento antes do evento. As leituras históricas agregam eventos passados do mesmo tipo; descrevem o que aconteceu, não o que vai acontecer. Não é recomendação de investimento.
The 4-month low on Feb 25 and softer Malaysian exports show the selling pressure building at the start of the window, though it falls partly before the window opens.
